Suppose a Firm Is Producing 100 Units of Output,incurring a Total

question 41

Multiple Choice

Suppose a firm is producing 100 units of output,incurring a total cost of $10 000 and total variable cost of $6000.It can be concluded that average fixed cost is

• A)$40.
• B)$60.
• C)$100.
• D)$160.
• E)$4000.

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Definitions:

Word-completion Task

A psychological test in which participants are asked to fill in the blanks in a list of incomplete words.

Encoding Specificity Principle

A principle in psychology that states the recall of information is improved if cues received at the time of recall are consistent with those present at the time of encoding.

College Professor

An academic instructor or faculty member who teaches and conducts research at a college or university level.

Recognize

The ability to identify someone or something as being previously known or familiar.